Nucor to close Nuconsteel division

ValBrickates Kennedy

BOSTON (MarketWatch) -- Steel-products maker Nucor Corp.
NUE, -1.57%
said Thursday that plans to close its Nuconsteel division later this spring. The unit, which was focused on light-gauge steel-framing, was acquired through Nucor's 2001 takeover of Itec Steel Inc. "We continually evaluate our business segments for long-term strategic fit and earnings potential. The fabrication of residential and commercial light gauge steel framing does not offer the returns or scale necessary for Nucor to remain in the business," said Dan DiMicco, Nucor's chief executive officer, in a statement. Nucor did not reveal how many employees would be affected by the shutdown. Nuconsteel has operations in Denton, Texas, and Dallas, Ga.

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